Safe and Green Development Corp revealed pivotal updates regarding its impending acquisition of the Xene Platform, a venture intricately tied to its parent company, Majestic World Holdings. The corporation aims to finalize the acquisition by the conclusion of the first quarter, contingent upon the ultimate approval by the Board of Directors and the meticulous execution of definitive documents.
The stock market responded fervently to this announcement, as Safe and Green Development witnessed a substantial surge in its stock value. As the news broke, the company’s stock opened Friday’s trading at $1.95, marking a noteworthy increase from the $1.36 closing figure in Thursday’s session.
At the time of this publication, Safe & Green Development Corp stock (surge) has witnessed a surge.
Safe & Green Development Corp
Current Price: $1.93
Change : +0.57
Change (%): (41.90%)
Volume: 46.2M
Source: Tomorrow Events Market Data
At the heart of this acquisition is the cutting-edge Xene Platform, distinguished by its utilization of advanced AI technology. The platform’s primary objective is to revolutionize the real estate landscape by establishing a decentralized marketplace. This visionary initiative aspires to seamlessly integrate banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into an AI-driven environment. The anticipated outcome is an all-encompassing solution that streamlines operations, significantly saving time and resources for all involved parties. Notably, the Xene Platform presents a cost-effective alternative to traditional buyers’ agent models.
The Xene Platform has already undergone a successful BETA launch earlier in 2023, proving its viability in the market. Majestic World Holdings has begun reaping the rewards, with the platform generating revenues in the wake of its preliminary launch. The public launch of the Xene Platform is anticipated within the first quarter of 2024, promising an industry-shaping evolution in the real estate sector.
David Villarreal, the President, and CEO of Safe and Green Development Corporation expressed his optimism about the acquisition, stating, “The successful BETA run earlier in 2023 has given us the confidence to move forward with a complete acquisition of the Xene Platform. This unique platform is expected to save banks and financial institutions time and money on foreclosure listings by leveraging the technology, property preservation, eviction, listing and sales, title, home warranty and homeowners’ insurance all in one place. We look forward to adding this line of business and diversifying our business portfolio.”
The strategic move toward acquiring the Xene Platform aligns with Safe and Green Development Corporation’s commitment to embracing innovation and diversification. The incorporation of Xene’s advanced AI technology into the corporation’s portfolio is poised to not only enhance efficiency but also revolutionize the real estate market. As the acquisition progresses, all eyes are on the Board of Directors for the final approval and the subsequent execution of definitive documents, paving the way for a transformative collaboration between Safe and Green Development Corporation and the Xene Platform.
